Word: playboyism
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Since profits started tumbling four years ago, Playboy Enterprises Inc. has been through more shufflings than a Playboy magazine in a barbershop. Employees at Chicago headquarters are now smarting from still another round of corporate hutch cleaning: the abrupt firing of 70 administrative and editorial workers, including five of the 30 vice presidents. President Derick Daniels circulated a written assurance that "no further planned mass reductions" would occur; understandably, that did not solace the survivors. He called the purge part of a "broad program to reduce administrative overhead and reallocate resources." Added Founder-Chairman Hugh Hefner, 51: "What...
Pinched by steady losses in circulation to the raunchier Penthouse and the downright sickening Hustler, and weighted down by a crazy-quilt diversification pattern (a movie company, a limousine service, hotels, books, a modeling agency), Playboy Enterprises earned only $2 million on sales of $198 million in fiscal 1976, far below its 1973 earnings peak of $11.2 million. A year ago, Hefner hired Daniels, 48, a vice president of the Knight-Ridder chain. Daniels is a onetime newspaperman (city editor, the Miami Herald) and grandson of the late North Carolina publisher Josephus Daniels, who was Secretary of the Navy under...
...long work weeks that frequently spill into weekends, the workaholic, chain-smoking, immaculately dressed Daniels has trimmed Playboy's bulging bureaucracy ("We had too many chiefs"). He abolished such jobs as vice president for public relations and for personnel, moving those functions to lower levels, and closed an unprofitable Playboy club in Detroit and a hotel in Jamaica. Daniels plans to concentrate on publishing, franchising-and gambling. The company's four casinos in England are its most profitable operation; they earned $10 million last year. Playboy plans a $50 million gambling palace in Atlantic City, N.J. Daniels also...
...high-class men's magazine by Gingrich and two partners, Esquire has been a clever and richly wrought showcase for most major writers of the century, from Thomas Wolfe to Tom Wolfe. But with the rise of raunchier men's books (Hugh Hefner dreamed up Playboy after leaving a $60 a week Esquire promotion-writing job in 1952), and uncertainty about what Esquire's voice should be (the monthly has had four editors in as many years), advertising and circulation have dwindled. Over the past two fiscal years, Esquire lost more than $2 million...
According to the mass-circulation German magazine Stern, however, the estate has a school where the Children train good-looking disciples in the arts of seduction. Such allegations are amply corroborated by the Mo Letters, which advocate not only Mo's version of the Playboy philosophy but the ancient practice of religious prostitution. In a 1974 epistle called "God's Love Slave!" for example, Moses describes how he gave his wife "Maria" to numerous men and then questioned her afterward to enjoy a "detailed description" of the action...